Investec refinances 30 million for solar farms in the UK

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Lightsource Renewable Energy and South Africa-based, Investec Bank, have announced the refinancing of four solar farms with a total capacity of 38MW across the UK.

The four solar farms are located across the South and South East of England at Chalcroft (6.3MW), Chediston Hall (12.4MW), Lexham (7.9MW) and Burntstalks (11.5MW).

Paul McCartie, structured finance director of Lightsource said:

"Investec has proven to be an exceptional, supportive partner and we look forward to strengthening our partnership with future deals. A report released by the government earlier this year, confirms the UK is leading the way in emerging low carbon sectors. This and other indicators, make it very clear that the green economy is one of the main sources of growth for the UK."

Investec is steadily growing its presence in the UK solar market. The company has already funded more than 80MW to date.

Olivier Fricot, head of power and renewables lending at Investec, said:

"Investec supported Lightsource in its first ROC based project financing. This transaction represents a significant deal for us, and further endorses the expertise of our team in the UK renewables sector.

"We are seeing significant opportunities in large-scale PV projects under the Renewables Obligation, which we are currently pursuing alongside other renewable technologies, such as wind or biomass."